I am aware that there is a penalty for withdrawing before maturity but I'm not sure if it has effect on my credit report.
Thanks!
2007-03-14 10:51:49 · 6 answers · asked by Justin T 1 in Business & Finance ➔ Credit
No because it is your money - it's NOT credit. You'll just lose the penalty fees, it does not affect your credit at all.
2007-03-14 10:53:57 · answer #1 · answered by §Sally§ 5 · 0⤊ 0⤋
Early CD withdrawl has nothing to do with your credit report. Things that effect the credit report are too many open credit accounts, more than 33.3% use of any of your credit cards, late pays, and length of time credit established.
2007-03-14 17:56:00 · answer #2 · answered by Terrie 3 · 0⤊ 0⤋
no affect whatsoever!
credit reports reflect money that you owe to creditors
your cd is your money
and the bank is not your creditor
you'll just need to pay the penalties
2007-03-14 17:55:15 · answer #3 · answered by EF 2 · 0⤊ 0⤋
That has nothing to do with credit, unless you have tied to a secure line of credit or credit card. Same thing with any bank accounts, they have nothing to do (or very very little to do) with credit/FICO scores.
2007-03-14 17:55:06 · answer #4 · answered by Fred L 3 · 0⤊ 0⤋
Not even a chance. Your assets have ZERO bearing on your credit score. Neither does your income.
2007-03-14 18:08:36 · answer #5 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 0⤋
no, it won't effect ur credit report---they will just take a portion of the cd---so less money for u
2007-03-14 17:54:30 · answer #6 · answered by Bailey 5 · 0⤊ 0⤋